Raymond James Financial Inc. Sells 84,195 Shares of Interactive Brokers Group, Inc. $IBKR

Key Points

• Raymond James Financial Inc. has reduced its stake in Interactive Brokers Group by 12.4%, holding 595,300 shares valued at approximately $98.6 million after the sale.
• Insider selling has also occurred, with Vice Chairman Earl H. Nemser unloading 194,086 shares for over $13 million, decreasing his ownership by 29.6%.
• Interactive Brokers Group reported a 14.7% increase in year-over-year revenue, reaching $1.48 billion, and beat analysts' earnings expectations with an EPS of $0.51.

Raymond James Financial Inc. trimmed its holdings in shares of Interactive Brokers Group, Inc. (NASDAQ:IBKR - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 595,300 shares of the financial services provider's stock after selling 84,195 shares during the period. Raymond James Financial Inc. owned approximately 0.14% of Interactive Brokers Group worth $98,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBKR. Vanguard Group Inc. increased its position in Interactive Brokers Group by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 10,351,521 shares of the financial services provider's stock valued at $1,714,108,000 after buying an additional 280,004 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Interactive Brokers Group by 91.4% in the fourth quarter. Bank of America Corp DE now owns 2,338,972 shares of the financial services provider's stock worth $413,226,000 after acquiring an additional 1,117,186 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Interactive Brokers Group by 1,476.3% during the first quarter. American Century Companies Inc. now owns 1,433,981 shares of the financial services provider's stock valued at $237,453,000 after acquiring an additional 1,343,007 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Interactive Brokers Group by 45.6% during the first quarter. Invesco Ltd. now owns 1,115,214 shares of the financial services provider's stock valued at $184,668,000 after acquiring an additional 349,255 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Interactive Brokers Group by 53.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,084,337 shares of the financial services provider's stock worth $191,570,000 after purchasing an additional 376,004 shares during the last quarter. 23.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Interactive Brokers Group news, Vice Chairman Earl H. Nemser sold 194,086 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $67.49, for a total value of $13,098,864.14. Following the transaction, the insider directly owned 461,500 shares of the company's stock, valued at approximately $31,146,635. This trade represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 233,972 shares of company stock valued at $15,746,449 over the last 90 days. 2.97% of the stock is currently owned by corporate insiders.

Interactive Brokers Group Price Performance

Interactive Brokers Group stock traded down $0.07 during midday trading on Friday, reaching $62.40. 3,860,323 shares of the company traded hands, compared to its average volume of 4,159,019. Interactive Brokers Group, Inc. has a 12 month low of $30.01 and a 12 month high of $68.07. The business has a 50 day moving average of $60.10 and a two-hundred day moving average of $51.82. The firm has a market capitalization of $105.84 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 2.54 and a beta of 1.22.

Interactive Brokers Group (NASDAQ:IBKR - Get Free Report) last posted its earnings results on Thursday, July 17th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.37 billion. Interactive Brokers Group had a net margin of 9.78% and a return on equity of 4.92%. The firm's revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. As a group, equities analysts forecast that Interactive Brokers Group, Inc. will post 7.46 EPS for the current year.

Interactive Brokers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, September 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Interactive Brokers Group's dividend payout ratio is currently 16.49%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Interactive Brokers Group from $45.50 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Citigroup increased their price target on shares of Interactive Brokers Group from $53.75 to $60.00 and gave the company a "buy" rating in a report on Monday, July 7th. Barclays raised their price target on shares of Interactive Brokers Group from $65.00 to $73.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen raised Interactive Brokers Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, The Goldman Sachs Group increased their target price on Interactive Brokers Group from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Interactive Brokers Group presently has an average rating of "Moderate Buy" and an average price target of $59.38.

Interactive Brokers Group Profile

Interactive Brokers Group, Inc operates as an automated electronic broker worldwide. The company engages in the execution, clearance, and settlement of trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange traded funds (ETFs), precious metals, and cryptocurrencies.